Royce & Associates LP purchased a new position in Richmont Mines Inc. (NYSE:RIC) (TSE:RIC) during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 201,000 shares of the basic materials company’s stock, valued at approximately $1,879,000. Royce & Associates LP owned 0.31% of Richmont Mines at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in RIC. Aperio Group LLC grew its holdings in shares of Richmont Mines by 8.0% in the 2nd quarter. Aperio Group LLC now owns 17,550 shares of the basic materials company’s stock worth $137,000 after acquiring an additional 1,294 shares during the period. Gamco Investors INC. ET AL acquired a new stake in shares of Richmont Mines in the 3rd quarter worth approximately $191,000. Canada Pension Plan Investment Board acquired a new stake in shares of Richmont Mines in the 3rd quarter worth approximately $278,000. Harvest Management LLC acquired a new stake in shares of Richmont Mines in the 3rd quarter worth approximately $280,000. Finally, Havens Advisors LLC acquired a new stake in shares of Richmont Mines in the 3rd quarter worth approximately $311,000. Institutional investors and hedge funds own 53.83% of the company’s stock.
Shares of Richmont Mines Inc. (RIC) traded up $0.25 during trading on Friday, hitting $9.60. The company’s stock had a trading volume of 868,236 shares, compared to its average volume of 466,921. Richmont Mines Inc. has a one year low of $5.45 and a one year high of $10.45. The stock has a market cap of $611.66 and a price-to-earnings ratio of 35.56. The company has a current ratio of 3.09, a quick ratio of 2.86 and a debt-to-equity ratio of 0.02.
Richmont Mines (NYSE:RIC) (TSE:RIC) last issued its quarterly earnings results on Wednesday, November 8th. The basic materials company reported $0.06 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.06. Richmont Mines had a return on equity of 8.60% and a net margin of 13.14%. The company had revenue of $36.55 million for the quarter, compared to analyst estimates of $36.45 million. The company’s quarterly revenue was up 52.0% on a year-over-year basis. analysts forecast that Richmont Mines Inc. will post 0.25 EPS for the current fiscal year.
A number of equities research analysts have commented on RIC shares. TD Securities reiterated a “buy” rating and set a $12.33 target price on shares of Richmont Mines in a report on Friday, November 24th. Zacks Investment Research cut Richmont Mines from a “hold” rating to a “sell” rating in a report on Tuesday, November 21st. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $11.67.
Richmont Mines Company Profile
Richmont Mines Inc, formerly Ressources Minieres Rouyn Inc, is a Canada-based mining company. The Company is engaged in the mining, exploration and development of mining properties, principally gold. The Company operates gold mines at various sites in Quebec and Ontario. The Company’s segments include Quebec and Ontario.
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